Future Supply Gap, page-3

Well this is the second time in the last 8 years that Arafura has gone out with a DFS in the hopes of obtaining project financing on a massive scale.  Still questioned why there wasnt a more modular solution to selling concentrae with a lower upfront price tag.  it will be boom or bust pretty soon. Arafura has always had a significant burn rate and it is amazing what management has been paid for a company that has never had any operations in its 37 year history and 16 years on the exchange.  Just a remarkable run of expenditure based on shareholder funding of white collar non-operative personnel.